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theguardian.com
Are global stock markets heading for a crash?
Economies thrown into renewed turmoil as AI debt, Iran war and soaring government bond yields fuel alarmAt the height of the summer, the mood was optimistic in the world’s financial capitals. Powered by the AI revolution, the US stock market had rallied to a fresh all-time high, as investors bet the multitrillion-dollar investment spree would overshadow the hit from the Iran war.Now the warning lights are flashing red. As the fighting in the Middle East intensifies without clear sign of a resolution, financial markets have been thrown into renewed turmoil. A slowdown looms in the AI arms race, and tinderbox conditions in the market for government debt are fuelling alarm. Continue reading...
theguardian.com
Your AI doomsday questions answered: ‘What, if anything, can people like me do about it?’
After a week of alarming warnings about artificial intelligence’s potential to destroy the world as we know it, our technology reporters Aisha Down, Blake Montgomery and Dan Milmo answer your questions on the reality of the AI threatIn realistic terms how would artificial intelligence actually kill me? What is the main proxy threat? Nuclear war, death due to breakdown of society, a virus? I hear all these reports it could kill us but still unsure how that could practically happen? To be honest all sounds too wooly to really take seriously. Pottys99Aisha: For what it’s worth, it seems unlikely that AI at this point can significantly change the equation around bioweapons or viruses … What has prevented bioweapon attacks through the past decades is not the difficulty of inventing new deadly viruses, but other, more prosaic issues. Consider the failure of Aum Shinrikyo to kill vast numbers of people with botulism and anthrax by spraying these around central Tokyo. There are a lot of logistical challenges, and chemical weapons seem more straightforward. Those exist without AI needing to invent new ones. Continue reading...
theguardian.com
Trump to create ‘AI Force’ to monitor technology as fears over out-of-control agents grow
President had brushed away suggestions to slow down AI technology, even as his own party counseled cautionDonald Trump on Saturday said he would appoint an artificial intelligence czar and create an “AI Force” to help monitor the technology, though he gave almost no details about either plan.As global fears over AI have grown, especially in the past week in the face of multiple industry figures sounding the alarm about its dangers, the president has been critical of calls to slow down development of the fast-moving industry. Continue reading...
cnbc.com
MS NOW, CNN and Politico journalists blocked from White House after Trump ban
Journalists from MS NOW, CNN and Politico were denied access to the White House, one day after Trump banned three media outlets over their coverage of him.
theguardian.com
Manchester United Muslim fans group calls on co-owner Jim Ratcliffe to quit
Supporters’ club says billionaire should stand down after ‘completely unacceptable’ comments on the UK and empireManchester United’s Muslim supporters’ Club (MUMSC) has called for the Premier League side’s co-owner to step down after he made “completely unacceptable” comments during a BBC interview.Sir Jim Ratcliffe described the UK as being a country “on the slide” from the days when it had “the greatest empire in the world”. Continue reading...
theguardian.com
UK politics increasingly funded by billionaires as mega-donations surge
Exclusive: A total £179m has been donated by wealthy individuals since 2019, research revealsBritish politics is increasingly being funded by individual billionaires with a wave of mega-donations having flooded into UK political parties over the past two parliaments.A total of £179m has been donated by wealthy individuals since 2019, research reveals. Continue reading...
theguardian.com
George Osborne ‘thought Peter Thiel’s Bayeux tapestry visit would be secret’
British Museum chair tells Big Brue festival he thought no one would find out about the private viewingGeorge Osborne has said he thought no one would find out about a private viewing of the Bayeux tapestry he organised for the tech billionaire Peter Thiel at the British Museum.The former chancellor, who is chair of the museum, told the Big Brue festival in Somerset that he had been on holiday when Thiel was shown the medieval artwork. Continue reading...
cnbc.com
She pays $96 a month to live in Yellowstone National Park: 'Being here has changed my life'
Zoe De La Paz quit her corporate job in Chicago and in June moved to Yellowstone to work as a seamstress.
theguardian.com
Scottish Labour’s new leader backs Rosebank and Jackdaw oil and gasfields
Michael Marra supports development of the North Sea sites, calling for a ‘more rational’ approach to energy policyScottish Labour’s new leader Michael Marra has backed the development of the Rosebank and Jackdaw oil and gasfields in the North Sea in one of his first acts after being elected, calling for a “more rational” approach to energy policy.On Saturday, the MSP for North East Scotland won a near two-thirds majority to lead the party in Holyrood, becoming Scottish Labour’s 11th leader. He replaces Anas Sarwar after his shock decision to resign in July to join Andy Burnham’s new government as a trade minister. Continue reading...
cnbc.com
Consumer sentiment is in the dumps despite a solid economy. Goldman Sachs blames 'lower happiness'
Goldman economist Joseph Briggs said broader pessimism in society may be contributing to struggling consumer sentiment even as the economy chugs along.
theguardian.com
Brazil’s wind farms have been a huge success. So why isn’t everybody reaping the benefits?
While the country’s ambition is to be the ‘Saudi Arabia of green energy’, communities in the north-east are bearing the cost in diminished health and livelihoodsBeneath the power lines cutting across Antonio de Souza’s property in Serra do Mel, in north-east Brazil’s Rio Grande do Norte state, rows of cashew trees once stood – until the clean energy company ordered them to be cut down.De Souza cannot plant crops in the affected area and the tractor cannot be driven through it in bad weather, as the driver risks an electric shock. Cattle, another source of local income, are forbidden from grazing near the cables. Continue reading...
cnbc.com
The AI kill switch, explained: 'It's not too little, but it's probably too late'
As runaway AI fears reach a crescendo, policymakers and tech leaders are weighing the effectiveness of a magic AI stop button known as a kill switch.
theguardian.com
US fashion CEO resigns after physically restraining animal rights activists
Steven Kolb of the Council of Fashion Designers of America was filmed during an altercation at New York fashion weekThe chief executive of the Council of Fashion Designers of America, Steven Kolb, has resigned after he was filmed physically restraining two animal rights activists during an altercation at New York fashion week.“After 20 years leading the CFDA, I have made the difficult decision to step down as CEO and president,” Kolb said in a statement. “I am enormously proud of what we have built together and believe this is the right moment for both me and the organisation to begin a new chapter.” Continue reading...
theguardian.com
Students scramble for accommodation after provider goes bust in Dundee
Case highlights severe financial strain on sector across UK as string of university housing schemes failAre you having problems with your accommodation provider?Nearly 70 students in Dundee have been left scrambling to find accommodation for this academic year after the latest in a string of university housing schemes went bust amid severe financial strain on the sector.Students in the city have been forced to find alternative housing and rapidly move their possessions as term begins this month after the collapse of the owner of Marketgait Apartments, a city centre block. Continue reading...
theguardian.com
Kevin Warsh may be the adult in the room. But can he calm the US economy?
Fed chair presided over unanimous decision to raise interest rates despite intense campaign from White HouseIn the end, Kevin Warsh’s Federal Reserve acquitted itself well. For all the uncertainty he had sparked at the previous meeting of the Federal Open Market Committee, when he refused to provide any indication of what he was prepared to do to tame stubborn inflation, the chair on Wednesday presided over a unanimous decision to raise interest rates for the first time in three years.“Today’s action starts to show that we’re serious about this,” he said at the press conference after the meeting, with “this” meaning inflation in excess of the Fed’s 2% target for over five years. Welcome though it was, his embrace of economic orthodoxy nonetheless did little to dispel the Keystone Cops quality of governance in Donald Trump’s US. Continue reading...
cnbc.com
Trump says U.S. to build a 'large Military presence' in Greenland as part of a security deal with it and Denmark
Greenland has maintained it is not for sale, and the European Union earlier this year united to rebuke Trump over his push to acquire the island.
theguardian.com
China bogeyman looms large over American firms’ AI doomsday scenario
Silicon Valley China hawks, Anthropic CEO Dario Amodei among them, fear the country surpassing US’s AI lead as much as superintelligence destroying humanityWhen reporters asked Donald Trump this week if he supported calls to slow down the development of artificial intelligence out of growing fears for cybersecurity, public safety and the fate of humanity, he said no. His argument: China.“We’re leading China in AI,” Trump said. “We’re the most sophisticated country in the world, and frankly, I want to keep it that way, because whoever wins AI, wins.” Continue reading...
theguardian.com
Domestic datacentres: how computer power can help heat your home
Energy bills are scheduled to rise next month but there are innovative ways to heat your home and save moneyWhen Giles Gibson turns on the hot tap in his home, the water that comes out of it is not heated by gas but by the tiny datacentre strapped to the tank.Attached to the hot water cylinder in his London home is a compact computer server that generates heat and then transfers it as it operates. Continue reading...
theguardian.com
‘A losing battle’: will UK public service broadcasters survive amid US onslaught?
Jobs and programme budgets in firing line at BBC, Channel 4 and ITV as they are outgunned by YouTube and Netflix“I wouldn’t be surprised if the BBC or Channel 4 disappeared,” says one of the thousands of TV staff at risk of redundancy, as British broadcasters face what has rapidly become a fight for survival against US digital rivals.“My generation grew up with Netflix and YouTube … Honestly, I feel like it is a losing battle.” Continue reading...
theguardian.com
‘We lost £14,000’: can a new clampdown stamp out cowboy builders?
An app and a register of trusted traders may give greater protection to consumers but it is too late for someIn hindsight, Sheri Ingram, 35, can see the red flags. Lee Slocombe, a builder hired to renovate her ex-boyfriend’s home in the south Wales valleys, offered to do the work cheaply because he had materials left over from another job, then asked for money upfront to buy additional supplies.“At the time, we believed him,” says Sheri, who was in her early 20s when it happened, and had just left university. The couple budgeted about £8,000 for work that included removing a supporting wall and building an extension with a balcony. Continue reading...
theguardian.com
Harrods seeks to recover abuse compensation costs from Mohamed Al Fayed’s estate
Exclusive: Survivors say luxury store’s attempt to recoup money is at odds with its public acceptance of responsibilityHarrods is seeking to recover the cost of the compensation paid to hundreds of women allegedly sexually abused by Mohamed Al Fayed from his estate, the Guardian understands.The luxury department store is seeking full indemnity from the late billionaire’s estate for any settlements it is required to pay, according to evidence seen by the Guardian. Continue reading...
theguardian.com
Deep cuts: how one Londoner’s fake vinyl empire sheds light on ‘industrial scale’ fraud
Thousands of knock-off records worth a fortune are being seized in the UK by anti-counterfeit police stingsFrom 2017 onwards, Rehan Ahmed styled himself as a savvy business owner. But behind the facade of a successful entrepreneur lurked one stark fact: his empire was built on fakery.On Friday, the man behind the biggest-ever UK case of producing fraudulent vinyl, who sold counterfeit copies of records by some of the world’s biggest artists including Taylor Swift, Coldplay and Kendrick Lamar, was jailed. Continue reading...
cnbc.com
A new arms race is unfolding on the ocean floor
Countries and companies are investing in technologies for underwater use amid concerns about the vulnerability of critical infrastructure on the ocean floor.
theguardian.com
Uber ordered to pay $40m over death of woman ejected by driver on freeway
California judge finds company ‘vicariously liable’ for driver’s negligence in death of Emily Normandin-ParkerUber was ordered to pay $40m to the parents of a 23-year-old woman who was killed after a driver kicked her and a friend out of his car by the side of a California freeway, according to newly public arbitration documents.An arbitrator, retired Calfornia judge Richard A Stone, found that the ride-share company was “vicariously liable” for the driver’s negligence. Continue reading...
cnbc.com
Anthropic selects Accenture as first embedded evaluator to help implement Amodei's slowdown proposal
Anthropic and OpenAI have been under intense scrutiny after researchers warned about the potential for AI to cause catastrophic harm to humanity.
cnbc.com
AI cloud provider Nscale files to go public
Nscale is the latest artificial intelligence neocloud to turn to public markets.
cnbc.com
Nike parts ways with Kylian Mbappé; soccer superstar signs with On
Mbappe had been signed with Nike for roughly two decades, and his agreement with On is the first it has made with a soccer player.
cnbc.com
Oil finishes the week flat as the market sees Saudi pipeline outage as less disruptive than feared
Saudi Arabia and the Houthis exchanged fresh attacks across their border, raising concerns that the widening Middle East conflict could further disrupt supplies
cnbc.com
Elon Musk talks up AI safety while fighting regulation in wild week of strange alliances
In the past week, Musk has agreed with the CEOs of Anthropic and OpenAI, while getting contradicted by President Trump and Nvidia's Jensen Huang.
theguardian.com
Why Europe has been absent from the great AI safety debate
Though Europe has measures that address how consumers might encounter AI, technology will impact them if the worst scenarios bearEurope’s dilemma over AI was rendered in stark terms this week. The head of the continent’s central bank, Christine Lagarde, said Europeans have two options: shun the technology and lose out on growth; or embrace it and become dependent on tools developed by the US and China.The great debate over AI safety that has erupted in recent days threatens to make the choice moot. If the worst scenarios come to bear – and experts have differing views on this – then the technology will impact the continent regardless. Continue reading...
cnbc.com
California Gov. Newsom issues executive order to rein in AI 'before it's too late'
California Gov. Gavin Newsom and other 2028 Democratic presidential hopefuls have called for a more aggressive approach to addressing AI fears.
cnbc.com
Fed staff should have known Silicon Valley Bank was vulnerable, new report finds
Fed Vice Chair for Supervision Michelle Bowman said a new report indicates the central bank's staff missed signs ahead of Silicon Valley Bank's 2023 failure.
cnbc.com
Three words from Kevin Warsh have Wall Street wondering how far the Fed will go with rate hikes
The chairman both explained this week's decision to raise interest rates, and raised vexing questions about what comes next
cnbc.com
Ticket prices rise for Macklemore solo concert after Ed Sheeran tour removal
Ticket prices are rising for Macklemore's upcoming solo concert after the rapper was removed from Ed Sheeran's tour for making pro-Palestine comments.
bbc.co.uk
'We simply don't know' - JP Morgan struggling to forecast oil prices due to Trump's war with Iran
The bank said it "assumed" there would be economic red lines, like oil at $100 a barrel, that the US would be unwilling the cross.
cnbc.com
JPMorgan, Citigroup CEOs attending Trump's state dinner for China's Xi: Sources
Dimon and Fraser join OpenAI CEO Sam Altman, Nvidia chief Jensen Huang and others who are reportedly planning to attend the Trump-Xi state dinner.
bbc.co.uk
Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins'
Since taking control in 1965, Buffett grew a struggling textile mill into a global conglomerate.
cnbc.com
Auto industry urges Trump to bar Chinese automakers in U.S. ahead of Xi visit
Leaders of six major auto trade groups joined to sign a letter to the president.
bbc.co.uk
Ryanair boss Michael O'Leary apologises over 'high-fare rapists' remarks
O'Leary described his choice of language as "careless" and said "it won't happen again".
theguardian.com
The Guardian view on youth unemployment: too few jobs in too many places | Editorial
Young people in Britain’s poorer towns have far fewer opportunities. Changing this will require targeted support – and industrial strategyThe ideas that Neets (young people not in education, employment or training) simply aren’t trying hard enough to find a job, or don’t want one, are “myths,” Alan Milburn wrote in his interim report on the subject earlier this year – “sometimes cruel ones”. Although 84% of Neets say they want to work, their prospects are unfairly limited by where they live. Rotherham has one suitable vacancy for every 22 young adults. The Cotswolds has one for every four. For too many young people, particularly those in deprived parts of Britain, there simply aren’t enough jobs.This is the finding from an index published last week by the Institute for Public Policy Research (IPPR), which ranked British towns according to the availability of jobs for young people. Like so many features of Britain’s Neet crisis, from poor mental health to school drop-out rates, the index is a map of disadvantage. At the top are affluent towns in southern England that account for nine in 10 of the areas with the highest numbers of vacancies. At the bottom are places such as Inverclyde and East Renfrewshire, where young people might once have followed their parents into manufacturing and industry. Deindustrialisation destroyed those jobs, and such places never recovered.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
cnbc.com
AirAsia's Fernandes refutes financial concerns, points to new growth plans
AirAsia's Tony Fernandes pushed back against a report raising concerns over the airline’s financial health, while signaling plans to resume growth.
cnbc.com
Disney names CTO for the first time as media giant expands tech push
Disney has hired a chief technology officer, a newly minted role for the company, as it looks to further its embrace of tech under CEO Josh D'Amaro.
bbc.co.uk
Flight chaos caused by 'millisecond' software defect, report says
The failure led to more than 2,000 flights being cancelled and hundreds of thousands of passengers affected.
theguardian.com
Kylian Mbappé leaves Nike after 20 years to sign boot deal with Swiss brand On
France captain also becomes a shareholder in company‘We have a shared dream, and this is only the beginning’Kylian Mbappé has ended a 20-year association with Nike to sign a boot deal with the Swiss challenger company On.The sports and leisure brand, which has previously focused on running and tennis, is planning a major move into football next year and has also appointed Thierry Henry as its football director. Continue reading...
theguardian.com
Marks and Spencer’s first LFW catwalk gamble pays off with compelling looks at affordable prices
Retailer’s message is ‘fashion with a small f’ as it picks up on trends and brings styles for everyone to debut runway showJoan Collins declared the coats “very chic”, and has her eye on a graceful ivory evening dress with caped shoulders. Kemi Badenoch plans to snap up the classic black tuxedo jacket. If the British public are as enthusiastic as the celebrity front row, Marks & Spencer’s first ever London fashion week catwalk looks like a hit.The show, held at the Design Museum for 310 guests including Ian Wright and Jamie Carragher, was a gamble on both sides. Would snobby fashionistas be traumatised by elasticated waistbands and practical rainwear? Would M&S customers be alienated by a world of £2,000 handbags and shoes you can’t walk in? Continue reading...
cnbc.com
StubHub shares tick higher for third day in a row after Citi upgrade
Analyst Jason Bazinet raised his rating to buy from neutral.
bbc.co.uk
Dragon Deborah opens with a terrible negotiation tactic
Deborah Meaden makes a bold opening move in response to a pitch.
bbc.co.uk
'Insufficient funds' to pay Brewdog creditors after takeover deal
Administrators say about £489,000 was owed for staff wages and holiday pay and £2.4m was owed to HMRC for unpaid VAT.
bbc.co.uk
British Steel plan lacks credibility, MPs say
A committee report says the government has not set out how British Steel will become profitable.
cnbc.com
Putin targets Nestle's Russian business as Kremlin tightens grip on Western assets
Nestlé is assessing its options after Russia placed the Swiss food giant’s local assets under temporary external administration.
bbc.co.uk
Economy minister accuses SoS of 'mischief making' in social media exchange
Dr Caoimhe Archibald posted on X about a new one-off electricity bill reduction, which Sir Chris Bryant reposted saying the UK government funded it.
cnbc.com
Warren Buffett steps down as chairman of Berkshire Hathaway: 'Father Time always wins'
Buffett's son Howard will replace him as chairman, as dictated by a long-standing succession plan, Berkshire said.
theguardian.com
‘I pay a lot more for fewer and fewer items’: five US shoppers on their food budgets
Guardian readers share how much they spend on food and the changes they’ve had to made in response to rising pricesWhile campaigning for re-election in 2024, Donald Trump stood in front of a table full of groceries – bags of flour, cartons of eggs, cooking oil – and told voters he would bring down the price of groceries “starting on day one” of his second term in the White House.Over two years later, US consumers have yet to enjoy lower prices. In fact, due to supply chain issues, jostling over tariffs, wars in Ukraine and Iran, severe cuts in Snap (Supplemental Nutrition Assistance Program) benefits, and the climate crisis, more than half of Americans say they’re struggling to afford groceries. Continue reading...
bbc.co.uk
We bought our £242,000 home without a deposit - here's how
The share of UK mortgages with smaller deposits is the highest it's been since 2008. The BBC spoke to borrowers about how they manage the risks.
bbc.co.uk
Former shoplifter ran 'steal-to-order' Whatsapp group
Keeley Knowles ran a Whatsapp group with about 200 people asking her to steal specific designer items.
cnbc.com
Anthropic and OpenAI hunt for smaller data center deals, sources tell CNBC, in race to deploy AI capacity
Anthropic and OpenAI have announced a flurry of AI infrastructure deals over the past year as demand booms.
cnbc.com
An intense boardroom battle is brewing at India's giant Tata Group
In 10 years, India's leading multinational conglomerate, the Tata Group, is facing a new power struggle between the chairman of Tata Sons and Tata Trusts.
theguardian.com
‘I spend a bagful of money and don’t fill a bag’: the energy crisis hits Bangladesh
The country has been left in the dark as it endures power cuts caused by the Iran war and reliance on gas importsAt 1am, Halder’s alarm goes off and the 34-year-old Bangladeshi bank employee rises and heads to her kitchen. She is up at this time not for work but to cook for her family. An energy crisis paralysing the capital, Dhaka, a city of almost 40 million people, means this has become the only time when the piped gas supply is strong enough to allow cooking.The city now operates in darkness, as people try to continue their lives with power even in public areas shut off early in the evening to preserve energy. Continue reading...
cnbc.com
Trump administration advances $24.3 billion fighter jet deal to Saudi Arabia as Houthis escalate attacks
The deal comes as Iran-backed Houthis escalate attacks on Saudi Arabia and seek control of the strategically important Bab el-Mandeb Strait.
cnbc.com
Putin braces for election stress test as Russians ‘feel the pain’ of struggling economy
Russia’s upcoming election is expected to cement United Russia’s dominance, but voter turnout and its margin of victory could offer clues to public discontent.
cnbc.com
Why Japan’s markets flipped the usual script after central bank rate hike
The yen weakened past 157 against the dollar, the yield on the 10-year Japanese Government Bond slipped, while the Nikkei 225 gained 1.5%.
bbc.co.uk
Japan raises interest rate to new 31-year high to curb rising prices
Central banks around the world have hiked rates as high energy prices are pushing up inflation.
theguardian.com
Todd Boehly exits Chelsea diminished after having his fingers burned
The billionaire’s departure will change little day-to-day but could be significant for club’s stadium plansNot since a doomed foray into the thorny world of the transfer market has Todd Boehly had any real influence over the day-to-day at Chelsea. The American exits football as a diminished figure four years on, along with his fellow investor Mark Walter, and the first thing to say is that little will change in the Stamford Bridge boardroom just because Boehly has left the scene.Clearlake Capital, the US private equity firm founded by Behdad Eghbali and José E Feliciano, was already the majority owner and guiding force. The trio of Boehly, Walter and the Swiss billionaire Hansjörg Wyss had an equal share of a 38.5% stake but have drifted into irrelevance since the BlueCo consortium bought Chelsea from Roman Abramovich for £2.5bn in 2022. Continue reading...
bbc.co.uk
Healey to ask EU finance ministers to let UK into Made in Europe scheme
The chancellor wants the Made in Europe programme to deepen ties with the UK "rather than erecting new barriers".
theguardian.com
Homes with a standout facade for sale in England – in pictures
From a blue-grey converted iron chapel in Cheshire to a shiny black infill townhouse in London Continue reading...
bbc.co.uk
Thames Water rescue deal should be rejected - MPs
A report on the future of Thames Water, urging the government to take action, has been published.
bbc.co.uk
'I would tip up to 30% at a restaurant'
New Yorkers and Londoners share what they usually tip in a restaurant - and whether tipping culture has gotten out of hand.
bbc.co.uk
Councils to share £5m in 'emergency food aid' as living costs rise
The money from the Welsh government will amount to around £200,000 to every council.
cnbc.com
Pokémon card curbs send shares of Japanese online marketplace Mercari on a bumpy ride
Mercari shares are clawing back losses after Pokémon card listing restrictions triggered a selloff earlier this week.
theguardian.com
Is Trump’s AI obsession walking the world into disaster? – podcast
Tech bosses have called for a slowdown in artificial intelligence and the creation of formal guardrails from the US government. But why is President Trump unmoved by the doomsday predictions, dismissing them as a ‘hoax’? What lies behind his embrace of the AI industry? Jonathan Freedland speaks to the Guardian US tech editor, Blake MontgomeryWatch Jonathan Freedland on our new Politics Weekly YouTube channelSend your questions and feedback to politicsweeklyamerica@theguardian.comListen to the latest season of Black Box Continue reading...
theguardian.com
‘If you build something vastly smarter than you, it better be on your side’: can we stop AI from deceiving us? – podcast
We are used to the idea that our fellow humans might intentionally mislead or manipulate us, but the idea that machines can now do the same is deeply unsettling. Researchers are racing to find solutions before it’s too late.By Snigdha Poonam. Read by Maya SaroyaRead the text version hereSupport the Guardian today: theguardian.com/longreadpodThis article was supported by a grant from the Tarbell Center for AI Journalism Continue reading...
cnbc.com
Bank of Japan raises interest rates to 31-year high, flags concerns over inflation
The decision was split 7-2, with board members Toichiro Asada and Ayano Sato dissenting from the hike.
bbc.co.uk
Early Bowie music available to stream for first time
Previously unheard material from the start of the artist's career has been released for the first time.
bbc.co.uk
The virtual worlds where robots are trained
Training systems that allow robots to negotiate the real world are getting more sophisticated.
theguardian.com
Taking on Trump? Canada and EU forge closer ties - The Latest
Canadian prime minister, Mark Carney, has welcomed the EU’s proposal for Canada to become the bloc’s first ‘associate member’, despite threats from Donald Trump over the plan. The US president said Washington could impose ‘very serious tariffs’ or halt trade if the EU went ahead with the idea. But in a defiant speech to the European parliament, Carney called for ‘deep cooperation’ and said polling showed the overwhelming majority of Canadians supported closer ties with Europe. Lucy Hough speaks to Europe correspondent Jon Henley Continue reading...
bbc.co.uk
Mixed feelings from consumers as electricity discount to be given to NI households
The one-off £63 reduction in electricity bills will be applied from next month.
bbc.co.uk
Warm words on Canada's EU 'associate membership' but no guarantees
There is no certainty that the idea will ever get off the ground, let alone become a blueprint for other countries, writes the BBC's Katya Adler.
theguardian.com
‘I feel invisible’: over-50s reveal harsh realities of trying to get a job
Candidates describe feelings of rejection after submitting hundreds of applications but getting a handful of interviewsHundreds of job applications, exhausting searches and relentless rejection – the experience of attempting to get back into the workforce after losing their jobs in their 50s and 60s has proved an ordeal for some Britons.For some, those efforts prove fruitless and lead jobseekers to reluctantly take early retirement. Others may have to rely on benefits to pay the bills while they continue to job hunt. Continue reading...
theguardian.com
The Bank of England is shaking up its bond sales – why does it matter?
What the plan to sell £146bn in gilts back to the Treasury means for the public financesBank of England holds interest ratesBurnham’s talk of ‘breathing space’ at odds with reality of future rate risesMixed in with the Bank of England’s decision on Thursday to hold interest rates at 3.75% was a surprise announcement that it was shaking up its programme of quantitative tightening.So why is this apparently arcane change to QT important, and what does it mean for the public finances? Continue reading...
theguardian.com
Money in people’s pockets is the key to economic recovery | Letter
David Redshaw responds to a letter on the bond markets and economic pressures afflicting the UKNeil Kinnock’s timely letter (9 September) reminds us that we are not alone in suffering high gilt yields and borrowing costs. We are still feeling the fallout from Covid, and it needs mentioning that our national debt is similar to America’s and much less than Japan’s, and it never gets mentioned that Italy routinely runs 100% of GDP debt. But as Kinnock observes, the policies of several Conservative governments (including Brexit) have made things worse, and the problem for us is not so much the actual debt but our direction of travel. The aforementioned will make the bond markets view us with a more jaundiced eye.It was predictable that Jamie Dimon would pop up at this point (JP Morgan boss meets Burnham and Healey to warn against bank tax rise, 10 September). He talks about potential lack of investment by the banks. What investment? We aren’t even a nation of shopkeepers any longer; we’re a nation of pizza deliverers. Continue reading...
theguardian.com
Tax the middle earners! Will the PM do it? – podcast
Former Bank of England economist Andy Haldane said the markets regarded this government as ‘a pretty traditional tax and spend socialist government with better TikTok videos’. Harsh criticism or truth? As pressure mounts on the chancellor, John Healey, to rule out tax rises, what options do they have left? Plus, what can the government do to tackle AI warnings?Please keep sending your comments and questions to Pippa and Kiran on politicsweeklyuk@theguardian.com Continue reading...
bbc.co.uk
Barclays workers ask for more money to return to the office
Unite union, which represents 36,000 Barclays staff, calls for a one-off payment to offset increased travel and childcare costs.
bbc.co.uk
Interest rates held but Bank signals rise if energy prices stay high
Rates are held for the sixth time in a row but the Bank of England says high energy prices make a future rise more likely.
theguardian.com
Burnham’s talk of ‘breathing space’ at odds with reality of future Bank rate rises
PM’s push to cut cost of living threatened by rising inflation and government borrowing costs as geopolitics hit homeBank of England holds interest ratesThe Bank is shaking up its bond sales – why does it matter?Business live – latest updatesGood luck to Andy Burnham convincing voters he is giving them “breathing space”, if the Bank of England ratchets up interest rates in the coming months.That was the prospect opened up by Thursday’s minutes of the Bank’s monetary policy committee (MPC) meeting, which left rates unchanged at 3.75% – for now – but suggested policymakers may be unlikely to hold out much longer. Continue reading...
theguardian.com
Trump says the US doesn’t need Canada. But it’s the source of key minerals for the military | Vince Beiser
Trump himself has acknowledged the US need for Canadian aluminum – and has largely exempted metals from new tariffsAs trade talks with Canada shambled toward collapse in late August, Donald Trump brayed on Truth Social: “WE DON’T NEED CANADA, THEY NEED US!” But in fact, Canada, like China, has something the US needs badly: critical metals that undergird modern military technology.Canada is the United States’s biggest foreign source of minerals, supplying about $47bin worth each year. Sixty per cent of all the aluminum the US uses each year, for instance, comes from Canada, where mighty, remote rivers provide smelting plants vast quantities of cheap, low-carbon electricity. The US military uses the lightweight metal for everything from shell casings to ship hulls and aircraft fuselage. The Pentagon’s cutting-edge F-35 fighter jet’s airframe is about 40% aluminum. “This country desperately needs aluminum,” Trump complained last month. “We get it all from Canada for the most part, and we need it badly.” Continue reading...
bbc.co.uk
I sent 200 LinkedIn messages and got a job: How to nail networking
From coffee chats to LinkedIn messages, here's how to network your way to your next job.
cnbc.com
Trump gains a tariff weapon against China and India. Will he use it?
U.S. House has paved the way for a legislation that will allow Trump to impose up to 100% tariffs on countries buying Russian oil, giving him leverage against India and China.
bbc.co.uk
Uncontrolled AI could lead to 'silicon species' rivalling humans, warns Microsoft
Mustafa Suleyman says he believes rival AI firm Anthropic is in effect teaching Claude it "may be conscious".
bbc.co.uk
OpenAI reveals six more safety issues and unveils plan to disclose incidents
The firm also announced a new system to track, investigate and disclose cases of models misbehaving, or "misalignment".
bbc.co.uk
The Documentary
Katy Watson explores Australia's relationship with China - partner, rival or 'frenemy'?
bbc.co.uk
US interest rates raised for first time in three years
Rates were hiked in a unanimous decision despite fierce opposition from President Donald Trump, who had called for a cut.
bbc.co.uk
Why Trump's hand-picked Fed chair defied him by raising interest rates
The 0.25% increase comes despite fierce opposition from the US president, who has called for rates to be cut.
bbc.co.uk
EU chief backs plan for Canada to become 'associate member'
Trump, who has frequently clashed with Canada's PM, threatens to cut trade with the European Union in response to the proposal.
bbc.co.uk
Snapchat open to putting time limits on teens, boss tells BBC
Evan Spiegel says it would be "an important step forward for the industry" in an interview with the BBC.
bbc.co.uk
Would you buy branded clothing from your favourite tech firm?
Nvidia, OpenAI and Anthropic are all now selling their own limited edition fashion lines.
theguardian.com
Pension peril: is it time to unpick the triple lock? | Letters
Readers are divided on whether the triple lock should stay or goThe article about whether the pensions triple lock should be ditched omits several key facts (‘Costing billions’: is the pensions triple lock a lifeline or simply unaffordable?, 12 September). The triple lock was introduced in 2010 to attempt to reinstate the value of the state pension relative to average earnings. The new state pension is just over £12,547 per annum, as your reporter says; older pensioners get a basic £9,615. Both are well below the European average, which is over €16,000 (about £13,800) per year. The UK median wage is above £39,000 a year. Moreover, the age at which the UK state pension becomes payable is among the highest in Europe.The discussion on the affordability of the state pension seems to regard it as expenditure for no return. It is not. Pensioners spend money into their local economy, which generates tax revenues in the form of VAT and income tax from younger people who are dependent on pensioner money for their employment. Better-off pensioners pay income tax in the usual way. In fact, a pensioner with any income at all above the new state pension will pay tax on it as the personal tax free allowance is now £12,570, only £23 above their pension income. Continue reading...
bbc.co.uk
Henry Zeffman: Andy Burnham and his chancellor have a battle on their hands as the Budget approaches
The Budget is only six weeks away and the economy is undoubtedly the biggest challenge facing the prime minister.
bbc.co.uk
Petrol and diesel price rises push UK inflation higher
Summer holidays and disruption to global oil supplies by the Middle East conflict stoked price growth.
bbc.co.uk
OpenAI boss says world 'right to be afraid' but should trust AI firms
Sam Altman and other tech CEOs say there are incentives to limit advancements in AI, as fears grow over the threats it poses to humanity.
bbc.co.uk
We managed to get jobs after uni - here's how we're keeping them
Four recent job starters share their tips on what helped them have a smooth transition and survive their first few days.
bbc.co.uk
Complaints to watchdog about water firms soar
Many complaints were about affordability, after customers saw steep hikes to bills.
theguardian.com
Barclaycard sent me a bill for someone else’s account
It told me a year ago I had applied for a credit card – now it is it telling me my payment is overdueA year ago I got an email from Barclaycard stating that my “application was successful” for a credit card. I had made no such application. I immediately reported this to Barclaycard. More emails arrived and I made repeated phone calls to customer service.I was assured it was a simple typo rather than fraud, and that my email address would be removed. However, I’m now receiving notifications that the latest account payment is overdue. Continue reading...
bbc.co.uk
UK in talks about joining global defence bank led by Canada
Supporters of the scheme say the bank would enable governments to get cheaper loans to spend on defence projects.
bbc.co.uk
The extreme engineering of aircraft windows
Few companies have the technology to make aircraft windows which are getting harder to make.
theguardian.com
Sky gave my father the hard sell even though he has dementia
He wanted to save money, but it insisted on selling costly packages and seemed not to accept ‘cancel’ as an optionI was helping my father, who has dementia and Parkinson’s disease, reduce his £113.50 Sky TV bill.We explained to the Sky call centre agent that, as his eyesight and attention span have deteriorated, he wanted the cheapest available TV package to free up money for his care. Continue reading...
bbc.co.uk
Can Europe recharge its battery industry?
Europe has some promising battery tech, but can it make up ground lost to Chinese battery giants?
bbc.co.uk
I asked my husband to pay into my pension when we had a child - here's why
Molly and Taylor Haylett explain the changes to how they managed their finances when they started a family.
bbc.co.uk
Why some experts increasingly fear AI will take over
AI agents went on an uncontrolled hacking spree, leaving some in the industry worried
bbc.co.uk
Should promotion depend on how workers use AI?
More companies are tying career progression to AI use: is that fair?
bbc.co.uk
'Tirana teeth': Albania hopes to be the new Turkey for dental work
The Balkan nation is aiming to become a new centre for medical tourism.
bbc.co.uk
Aviation faces hotter, stormier skies – and passengers might have to accept more disruption
Are people going to have to increasingly accept more delays and diversions as the effects of climate change intensify?
bbc.co.uk
Prosecco, cakes and beauty products - how to get birthday freebies and why there's a catch
Cake, coffee, make-up and burgers are just some of the free things you can get on your birthday.
bbc.co.uk
From 'dog fruit' to darling: India's avocado boom
Demand for avocados is booming in India and local growers hope to grab more of the market.
bbc.co.uk
Why wait? Business grads buying firms to install themselves as CEO
Impatient to be the boss of an established company they are borrowing money to fund their purchases.
bbc.co.uk
'My parents won't lend me £10k but helped my brother': When families play financial favourites
So-called financial favouritism can cause jealousy and resentment long into adulthood. Here is how experts say you can avoid it
bbc.co.uk
Why the UK is dithering over what to do about e-scooters
Why is it taking so long for the government to regulate them, and what are the consequences of delay?
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
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